On Technological Progress: Analysing Ricardo’s Theory on Unemployment (original) (raw)

This paper analyzes David Ricardo's theory on unemployment in the context of technological progress, emphasizing the implications for contemporary development economics. It discusses the dual impact of technology on labor markets, positing that while short-term technological unemployment may arise due to capital shifting away from labor-intensive industries, the long-term effects could be beneficial, leading to increased productivity and employment opportunities. The author concludes that governments should encourage technological adoption to bolster economic competitiveness, especially in developing nations.